It could change how you view your handmade jewelry business.
Origami Owl was started in 2010 by a 14 year old teenager named Bella Weems. She began selling her jewelry at a local mall kiosk.
From those humble beginnings, four years later Origami Owl had retail sales last year that surpassed, get ready….
That’s not a typo.
How on earth is this possible?
Please listen to this interview where Bella herself talks about this meteoric rise:
From a business model perspective there are many reasons why Origami Owl has achieved this kind of success.
But I want to focus in on one thing that even a “business of one” handmade jewelry micro-business can replicate.
That is, focusing on designing jewelry that has a built-in component that encourages REPEAT purchases.
What do I mean?
Take Origami Owl’s “Living Lockets” strategy: Living Lockets
This type of product is not a “once and done” purchase.
The product encourages getting all kinds of charms to use with the locket, as well as many different styles of lockets that match a range of memories and emotions that a potential customer might want to express.
Can you imagine how many repeat purchases this company must get?
Why is repeat purchasing so important to your business?
Remember this. When you sell something you have to invest a certain amount of time and money to make that sale.
This is what marketers call “acquisition cost.”
If a current customer comes back to you after the original acquisition cost is made, you do not incur that acquisition cost again. This means that you massively increase your profit per customer each time a customer comes back for a repeat purchase.
Selling jewelry is typically a “one and done” sale. However, if you can “design in” a repeat purchase component to your jewelry designs, the stars are the limit.
Just ask Bella.